Creating the net-zero path: Why Budget 2025 needs to pave the way for a strong carbon credit market
carbon credit framework. As international mandates for sustainable supply chains, production, and trade become increasingly prominent, carbon credits play an important role in their implementation.
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With India’s economy relying significantly on energy-intensive industries, carbon credits offer a solution to reconcile economic growth and sustainability, says Sanjay Gupta, CEO at Apollo Green Energy, a major engineering, procurement, and construction services provider.
“Such a method would not only push corporations to adopt more environmentally friendly practices but would also allow India to capitalise on its tremendous renewable energy potential. By monetising carbon reduction initiatives, India can attract foreign investment, stimulate innovation, and increase its worldwide competitiveness in the renewable energy sector,” he says.
And this will have a multiplier effect, Gupta says. Encouraging enterprises to adopt greener technologies fosters job creation in the clean energy industry and supports India’s overall development goals.
However, building a strong carbon credit mechanism in India has proven to be quite challenging. Gupta points out that a significant impediment is a lack of integration among diverse stakeholders, such as industry, regulators, and market
